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CBM Asia Development Corp.

June 28, 2010

 

CBM Asia Development Corp.

 

Symbol:                               TCF.V
Exchange:                           TSX
Shares Outstanding:         32.726 million
Market Capitalization:      9.000 million
Share Price:                        $0.275
Telephone:                          (604) 687-7551
Website:                              www.cbmasia.ca

 

CBM Asia Development Corp. is a Canadian-based unconventional gas company with significant coalbed methane ("CBM") exploration and development opportunities in Indonesia.

 

The Company is in a process to acquire a participating interest in a production sharing contract on a 58,349 hectare block located in the South Sumatra Basin where initial exploration drilling of a production test well commenced in the second half of 2009.

 

The Company has also committed to fund an initial US$3.25 million in exploration expenditures on the Sekayu PSC to prove reserves and submit a Plan of Development to the Government of Indonesia.

 

The Company also has an 18% net working interest in a CBM PSC on a 76,000 hectare block located in the Kutai Basin of East Kalimantan.

 

As geotechnical lead, the Company is responsible for directing a US$5.6 million exploration and appraisal program over the next three years (to November 2011), to determine commercial feasibility of CBM production for the Kutai-West PSC and submit a Plan of Development to the Government of Indonesia. The Company has 40% net working interests in a second 56,500 hectare block also in the prolific Kutai Basin.

Indonesia has one of the largest CBM reserves in the world with a potential 453 trillion cubic feet. Between May 2008 and August 2009, 15 CBM PSCs were granted by the Government of Indonesia, representing exploration commitments of US$95.68 million over the next 3 years.

 

Click here for CBM Corporate presentation

 

 


Related News Articles

CBM Asia Announces Rig Mobilization for Coalbed Methane Exploration Program in South Sumatra
CBM Asia Amends Warrant Terms
CBM Asia Announces South Sumatra Joint Agreement & Acquires Interest
CBM Asia Announces Coalbed Methane Joint Operating Agreement in Kutai Basin
CBM Asia Announces Coalbed Methane Joint Acquisition Agreement in Kutai Basin
CBM Asia Announces Update to Working Interest in Sekayu Coalbed Methane PSC
CBM Asia Announces Update to Kutai-West Coalbed Methane Work Program
CBM Asia Provides Operations Update to 2010 Work Program
CBM Asia Announces Further Test Results From First Exploration Well In South Sumatra
CBM Asia Announces Further Test Results From First Exploration Well In South Sumatra; March Spud Dat
CBM Asia Appoints Coalbed Methane Expert Scott H. Stevens To Board
CBM Asia on Jay Taylor's Radio Show
CBM ASIA CEO Appointed to Board of South Sumatra Energy
CBM Asia Closes Letter of Intent to Acquire Working Interest in Sekayu PSC